LG Electronics to build factory in Hai Phong

HA NOI (BizHub) — LG Electronics Vietnam has announced plans to build a $1.5 billion factory complex in Trang Due Industrial Park in the northern city of Hai Phong.

Spanning more than 400,000 square metres in the industrial park, the complex will be built in two phases in the periods 2013-2017 and 2017-2023 and is expected to produce annual revenue of $1 billion in 2016.

LG will use the factory complex to produce equipment including electronic products for cars, smart TVs, washing machines, vacuum cleaners, and smart phones for export to some 50 countries.—VNS

The factory will produce new-generation OLED screens and create 6,000 jobs. It will be built on an area of more than 40ha at Trang Due Industrial Zone and construction will begin in early May. Addressing the signing ceremony, Le Van Thanh, Chairman of the City People’s Committee, said the project is very significant to the development of the city. “We pledged to create the best possible conditions for LG to implement the project,” Thanh promised. Cheoldong Jeong, LG Displays executive vice president , said this was the first OLED screen production project that LG Displays carried out and hoped it would become the leading model in Haiphong and Vietnam as well. Earlier, the US$1.5 billion LG Electronics Vietnam Haiphong project was put into operation in March 2014.... [read more]

The movement represents one of the fastest economic transformations ever, as shipments of smartphones and computer parts have begun to overtake exports of coffee, garments and shrimp. It marks a definite shift away from China and comes about as a result of tax benefits and a relatively lower cost labour force that makes Vietnam an appealing alternative to its northern neighbour. Microsoft, which took over Nokia in a US$7.2 million deal last April, closed all its plants in Hungary, contracted production in China and Mexico, and shifted the bulk of phone manufacturing to Bac Ninh province. Microsoft Mobile Vietnam Limited Liability Company began production of smartphones in August 2014 and has since exported more than 5 million Lumia phones to markets around the globe. To date, Microsoft has moved 39 production lines from Komarom (Hungary), Beijing, Guangdong (China) and Reynosa (Mexico) to Bac Ninh province and the Vietnamese plant has become a key factor in its global supply chain. Last November Samsung Electronics revealed a plan to invest up to US$3billion to create a new smartphone factory in the Yen Binh industrial zone in Thai Nguyen province. The announcement came a month after Samsung Electronics revealed is set to construct a US$1.4 billion factory in Ho Chi Minh City, where it intends to make TVs, washing machines and air conditioners. Other divisions from the South Korean company are also expanding in the country, including Samsung Display and Samsung Electro-Mechanics. According to the Yonhap news agency, the conglomerate as a whole…... [read more]

Cooling appliances fly off the shelves By Thoa Nguyen - The Saigon Times Daily HANOI - Demand for home cooling appliances has surged in Hanoi since the capital city was hit by several heat waves. Electronics stores in the city have been busy for the last five days with Pico Plaza, a leading electronics retail center in Hanoi, on Tuesday selling 700 air conditioners after averaging about 200 per day. Nguyen Xuan Chau, marketing director of LG Electronics Vietnam Co., said that the company's turnover has increased by two or three times compared with early summer, mostly from air conditioners, fridges and electric fans. "9,000 to 12,000 BTU air conditioners are best-selling items as they are suitable for room sizes of most Vietnamese families," Chau said. The owner of Hong Hanh electronics store on Nguyen Luong Bang Street is also busy in the hot weather. "We sell 10 air conditioners everyday instead of three. Fridge turnover has also increased by 20%," she said. Local residents have also flocked to buy rechargeable fans to cope with constant power outages in the city. Despite the hot season for cooling equipment, most companies and retailers have tried to stabilize prices and have received no complaints on prices or product quality. Daily activities in Hanoi have been restricted as temperatures have lately exceeded 40 degrees Celsius. People escape the heat in cinemas, coffee shops, supermarkets and swimming pools.... [read more]

Testing process overload hinders energy labeling Minh Tam By Minh Tam - The Saigon Times Daily HCMC – Quite a few household electrical appliances will not get energy labels before the year’s end as required as the testing process is now overloaded due to the lack of testing agencies. Electrical equipment producers and importers said many refrigerators and air conditioners had yet to receive energy labels although it is regulated that household electrical products must carry this label from January 1, 2013. Pham Thien Thi, marketing manager for cooling appliances at LG Electronics Vietnam Co. Ltd., said his firm started mandatory energy labeling two months ago. However, up to now, the product samples have not been tested to be labeled. At present, it takes 3-5 days to test a refrigerator and 1-1.5 days for an air conditioner. Energy labeling is progressing at a slow pace due to the lack of testing centers. For refrigerators and air conditioners, there is now only one agency in charge of checking energy efficiency, which is the Testing and Verification Center for Industry under the Vinacomin-Institute of Mining and Energy Mechanical Engineering in Hanoi. “We want more testing centers in HCMC instead of only one in Hanoi, so that enterprises do not have to wait and management agencies are not overloaded,” said Thi of LG Vietnam. Meanwhile, for electric fans, lighting devices and rice cookers, there are 2-3 testing agencies. Recently, the Ministry of Industry and Trade has authorized a laboratory of Intertek in Thailand…... [read more]

LG launches Optimus L9 phones Ha Van By Ha Van - The Saigon Times Daily HCMC – LG Electronics Vietnam Co. Ltd. late last week launched LG Optimus L9 mobile phones onto the local market. The new phone comes with a dual-core microprocessor 1GHz along with RAM 1GB. Users can browse websites, have 3D graphic experiences, play games and switch applications more rapidly. Equipped with an In-Plane Switching technology screen having a width of 4.7 inches of high-resolution level, the new product helps users enjoy HD films, web browsing and playing games. Notably, it has the function to take photos by voice as an 8MP camera. Users just need to say “Cheese”, “LG” or “Whisky” to order the phone to take pictures without touching the screen. Moreover, the phone has a supporting mechanism for taking panoramic views, doing the continuous shooting, recognizing faces and providing addresses. LG Optimus L9 phones now are available at official sale agents of the company nationwide with black and white colors at VND7.8 million a unit. Buyers will be given a 4G memory card for one product.... [read more]

LG launches curved-screen TVs in Vietnam Van Ly By Van Ly - The Saigon Times Daily HANOI – LG has launched the first curved-screen television in Vietnam with a price of VND250 million a unit. With a thinness of 4.3 mm, the TV’s screen is curved naturally ensuring the same distance from a viewer’s eyes to all points on the screen. The new TV using the WRGB OLED technology offers fine pictures and is designed with crystal support made by Japanese Kyocera. It has a loudspeaker system which is only 1 mm thick but has an output of up to 40W. According to Ko Tae Yeon, general director of LG Electronics Vietnam, LG is the first brand in the world to launch onto the market the curved-screen OLED TV as a high-class item. The first curved-screen OLED TV that LG offers for sale in Vietnam is the 55EA9800 having a weight of 17 kilograms. The curved-screen TV is not only a three dimension (3D) one but also a smart one using the passive 3D technology with a strong 3D effect, with the usage of 3D glass safe and convenient. The new product of LG is already available in Korea, the U.S. and Germany.... [read more]

Locally-assembled OLED TVs to debut this quarter Chi Thinh By Chi Thinh - The Saigon Times Daily HCMC – South Korean electronics firm LG plans to launch the televisions assembled in line with organic light-emitting diode technology at its facility in the northern province of Hung Yen in the second quarter of this year. Earlier this year, LG Electronics Vietnam rolled out a series of new TV models using high technologies, including the high-end LG EA970T, a curved-screen OLED TV model. This paper-slim model is 4.3mm thick and uses the OLED technology for better image display. Four months ago, the company imported the LG 55EA9800, a curved-screen OLED TV model, for sale in Vietnam to gauge the market. The model was the first of its kind in the country and was priced at VND250 million at the time. However, the company expects prices of OLED TVs to go down by 30% when these products are assembled here in this market. Ko Tae Yeon, general director of LG Electronics Vietnam, said the company’s ambition was to dominate the high-end TV market segment, especially for the OLED models. Apart from the 55-inch EA970T, the company plans to market other hi-tech models with bigger screens. LG will also sell 14 different models of Ultra HD and Full HD TV with screens of 32 to 55 inches or 84 inches before the World Cup 2014 soccer tournament starts in June this year as many Vietnamese take this occasion to buy new TVs. No official…... [read more]

Nokia Vietnam most attractive to job seekers Thai Ngoc By Thai Ngoc - The Saigon Times Daily HCMC – Nokia Vietnam Co. Ltd., which now operates under Microsoft Vietnam, is the most attractive firm to job seekers as shown by the country’s leading online recruitment provider VietnamWorks.com. In average, nearly 549 candidates apply for each position that the company recruits. Following Nokia Vietnam are Panasonic Vietnam, Orion Food Vina Co. Ltd., Posco E&C Vietnam Co. Ltd., Sei Electronic Components Vietnam Ltd., and DHL Express Vietnam. According to the result announced yesterday by VietnamWork.com, among the top 50 companies attracting most applicants on the site this year are 13 production enterprises, 21 companies with 51-300 employees and only two firms with more than 300 employees. Over 87% of the jobs offered by those leading companies require candidates to have two to five years of working experience. Administrative secretary and accounting are the most sought jobs for applicants, making up 20% and 18% respectively of the total jobs offered by the top 50 firms. Nearly 90% jobs offered by those firms are in HCMC and Hanoi. More than 8,000 companies have counted on VietnamWorks.com to find employees this year. List of 15 most attractive employers for job seekers on VietnamWorks.com 1. Nokia Vietnam Co. Ltd. 2. Panasonic Vietnam Co. Ltd. 3. Orion Food Vina Co. Ltd 4. Posco E&C Vietnam Co. Ltd. 5. Sei Electronic Components Vietnam Ltd. 6. DHL Express Vietnam 7. Topcom Investment Joint Stock Co. 8. KOTRA 9. Dai…... [read more]

LG Electronics Vietnam held a donation ceremony last week to launch a project on mosquito-borne disease prevention in Tien Lu District of Hung Yen Province. — VNS Photo HUNG YEN (Biz Hub) — LG Electronics Vietnam held a donation ceremony last week to launch a project on mosquito-borne disease prevention in Tien Lu District of Hung Yen Province. This is a non-profit project for welfare of the community launched by World Vision Vietnam and completely financed by LG Electronics Vietnam to assist medical institutions and local governments to implement measures to prevent mosquito-borne diseases from spreading in two communes of Trung Dung and Le Xa and Tien Lu District. The project is aimed at raising awareness of mosquito-borne diseases and the necessary precautions among adults and children in the project area to improve the health of the communities in the two communes. LG has officially transferred US$70,0000 for the project. The total budget of the project will be spent on disseminating information, improving the drainage system and buying drugs and medical equipment to prevent mosquitoes from breeding during a three-month period. — VNS... [read more]

Hai Phong Boosts Business Environment Improvement By constantly improving the business environment and diversifying investment promotion activities, Hai Phong City has attracted considerable resources for socioeconomic development. Vietnam Business Forum has an interview with Mr Le Trung Kien, Director of the Department of Planning and Investment of Hai Phong City, on this issue. Song Uyen reports. Hai Phong City ranked first in the country in new investment projects attracted in the first eight months of 2016; and first out of 63 provinces and cities as of August 31, 2016. What do you think of these results? As a transport hub of the region with important seaport, overland, inland waterway, seaway and airway traffic systems, Hai Phong City is one of a few localities in Vietnam to receive the first foreign direct investment (FDI) flow. The city attracted 31 new FDI projects with a total registered capital of US$1.86 billion in the first 8 months of 2016, ranked first among 63 provinces and cities. FDI projects in city focused on high-tech, processing, manufacturing, electronics, engineering and rare earth product. Investors from various countries and territories poured their capital into the city, including Japan and Korea and they brought with modern advanced environment-friendly technologies. Typical investors are Bridgestone Tire Manufacturing Vietnam Limited Liability Company with an automobile tyre production project (US$1.224 million), NIPRO Pharma Vietnam Co.,Ltd with a drug production plant (US$250 million) and Fuji Xerox Hai Phong Co.,Ltd with a printer and photocopier production facility (US$119 million), LG Electronics Vietnam-Hai Phong…... [read more]